Brown & Brown Ups Dividend One Cent
NU Online News Service, Oct. 22, 11:34 a.m. EDT?Daytona Beach, Fla.-based Brown & Brown Inc. said that it is increasing its regular quarterly cash dividend to eight cents a share from seven cents.[@@]
The new rate will be paid on Nov. 17 to shareholders of record on Nov. 3.
On Sunday, the firm reported a 20 percent increase in revenue for the third quarter, or $26.8 million, going from $133.5 million to $160.4 million. Net income rose 15 percent, or a little more than $4 million, from $26 million, or 38 cents a share, to $30.1 million, or 43 cents a share.
For the nine months, revenues rose 16 percent, or $67.75 million, going from $416 million to $484 million. Net income increased 17 percent, or $14 million, from $84.5 million, or $1.23 a share, to $95.6 million, or $1.42 a share.
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